The Strategy seeks to achieve its objective by investing in a combination of Underlying Portfolios representing a variety of asset classes and investment styles that are also managed by the Adviser. By allocating its assets among the Underlying Portfolios, the Strategy creates a portfolio that is designed as a solution for investors who seek a moderate tilt toward equity returns without regard to taxes but also want the risk diversification offered by debt securities and the broad diversification of their equity risk across styles, capitalization ranges and geographic regions. Through investments in the Underlying Portfolios, the Adviser efficiently diversifies between the debt and equity components to produce the desired risk/return profile of the Strategy.
All investments involve risks, including possible loss of principal.
Because the fund invests in underlying funds that may engage in a variety of investment strategies involving certain risks, Alliance Bernstein Balanced Wealth Strategy Portfolio may be subject to these same risks.
Stock prices fluctuate, sometimes rapidly and dramatically, due to factors affecting individual companies, particular industries or sectors, or general market conditions.
Bonds are affected by changes in interest rates and the credit worthiness of their issuers. Bond prices generally move in the opposite direction of interest rates. Thus, as the prices of bonds adjust to a rise in interest rates, the fund's share price may decline.
Higher-yielding, lower-rated corporate bonds entail a greater degree of credit risk compared to investment-grade securities.
Foreign investing carries additional risks such as currency and market volatility and political or social instability; risks which are heightened in developing countries.
Value securities may not increase in price as anticipated or may decline further in value.
These and other risks are discussed in the fund's prospectus.
Past performance is no guarantee of future performance. Both the return and principal value of subaccounts will fluctuate so that when redeemed, they may be worth more or less than their original cost.
An investment in the fund is subject to risk including possible loss of principal. This fund is subject to market risk as well as other specific types of risks associated with REITs, mortgage-backed securities, credit default swap agreements, derivatives, futures contracts, options and illiquid securities. These risks include, but are not limited to, interest rate risk, credit risk, risks associated with foreign investments, currency risk, allocation risk and liquidity risk. Please see the prospectus for a complete discussion of these risks.
Asset allocation, like all investment strategies, offers no guarantee of positive returns. Funds are subject to market risk, including loss of principal. You should also note that fees associated with these funds-of-funds may be higher than with other funds. The ability of the Portfolio to achieve its objective depends largely on the performance of the underlying funds in which it invests. Each underlying fund���s performance, in turn, depends on the particular securities in which that underlying fund invests. Total expenses associated with the Portfolio may be higher than with other funds.